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Packaging Your Services: Create Multiple Streams of Small Business Income

by Maria Marsala

Summary:One of the ways you - as an owner of service businesses - can increase your profits is to create multiple streams of small business income. And the place to start is by designing informational products.

One of the ways you - as an owner of a service based business - can increase your profits is to create multiple streams of small business income. And the place to start is by designing informational products. The products could be based on your knowledge - things like CDs, e-books, booklets, TeleSeminars, and articles. You know -- these are the very things you've been watching me develop over the years. And if you're a US resident who has taken one of my TeleSeminars, you may have received one of my "test" CDs in the mail! They include an ebook and audio of the class. And you can create such products, too.

Another way to boost your income is to develop products that will help your ideal clients. And it's easier then you think IF you really, really, really listen well to your clients. For example, my clients complained that they had lots of ideas and that I was giving them even more! Many of their ideas were written on many bits of paper. (Can you relate?)

What I heard them say was that they wanted a SIMPLE way to organize their ideas for future use that did not include rewriting (or retyping them) in a software program. So, I created SIMPLE IDEAS Folders - a set of 6 folders that list what ideas should go into them and they spell out the word SIMPLE. Now, my clients all have these folders and I sell them at events in the back of the room for $8 when I speak. Besides being inexpensive and SIMPLE, each of the 6 folders has my web site on them, so they're a great marketing tool.

Below is a list of possible products you might create. It's an excerpt from the Packaging Your Services Chapter of my workbook, "Pricing Your Services 'Just Right." You can read more about how you can obtain a copy of the eworkbook here.

• Offer a variety of packages - different products, different services, different lengths of time (if applicable). Want to view an example of pricing packages? Visit http://coachmaria.com/programs.html.
• Many business owners place a pricing structure on their websites. Using the industry name, plus the word "rate" or "fees" or "quote," you can find those sites on the Internet.
• Always consider the client and customer service when pricing your services, too. If what you sell requires training for your customers, you can offer a block of training hours included in the initial price, with additional training charged separately at an hourly rate of ___. The training hours can be in person, over the phone, or via email.
• Some people do advertise their prices; others don't. Some people charge by the hour; others charge by the project (which is perceived to be more professional).
• If you list your prices - be specific. List what is included, for how many hours and/or for how many people. You might want to include a form for potential clients to complete so prices can be calculated.
• Consider charging a licensing fee. When you create a document for use by your clients, it might be a product they want to share with their clients. If so, create a licensing fee policy for that document, ebook, ereport, program, etc.

© 2010 Elevating Your Business. An irrepressible entrepreneur, Maria Marsala sold AVON at age 14 and landed on Wall Street three years later. She became a bond trader at a time when female executives were as rare as pink diamonds. In 1998, brimming with 25+ years of business expertise, Maria created Elevating Your Business. She coaches established women B2B owners to double their bottom line using strategic business planning and execution systems, delivered one-on-one or to large audiences. Earn more, work less and live a sparkling quality of life! It starts at www.CoachMaria.com

WANT TO USE THIS ARTICLE IN YOUR EZINE, Blog OR WEB SITE?

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© 2010 Elevating Your Business. An irrepressible entrepreneur, Maria Marsala sold AVON at age 14 and landed on Wall Street three years later. She became a bond trader at a time when female executives were as rare as pink diamonds. In 1998, brimming with 25+ years of business expertise, Maria created Elevating Your Business. She coaches established women B2B owners double to their bottom line using strategic business planning and execution systems, delivered one-on-one or to large audiences. Earn more, work less and live a sparkling quality of life! It starts at www.CoachMaria.com

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You cannot use our articles in your ebook, to teach a class, or during a speaking event, or if you are paid in any way without our written permission, period. Contact Maria

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© 1998-2010 Maria Marsala & Elevating Your Business.com

Legal Disclaimer: Every effort has been made to accurately represent our products and services and their potential. Any claims made of actual earnings or examples of actual results may not apply to the average purchaser and are not intended to represent or guarantee that anyone will achieve the same or similar results. Results will depend on the unique skills and business of the individual and as with any business endeavor, there is an inherent risk of loss of capital and there is no guarantee that you will earn any money. Any or all guarantees that Maria provides clients is submitted first in an email, and then in writing.